MEMORIAL UNIVERSITY
New budget model update

A message from the vice-president (finance and administration)

Over the last several weeks, I have had the pleasure of meeting with leaders across many faculties, schools, libraries, academic and administrative support units and campuses on the new activity-based/responsibility-centred management (ABB/RCM) budget model at Memorial.

I have presented background on the budget model project, answered questions and shared next steps, and I will continue until I have met with all units.

I will also meet with more members of the university community as we move through the phases of the project.

A common thread through the discussions so far has been support for change, despite the challenges it can bring.

I recognize that developing and implementing a new budget model means navigating significant change during already challenging times at Memorial.

I am feeling strong support for the new direction and a recognition that changing our budget model process is an important part of ensuring the university's financial sustainability.

We are at a critical point where we must act together.

There is a clear desire among leaders to ensure that the ABB/RCM budget model aligns resources with academic priorities, improves transparency and accountability and is both predictable and sustainable.

We are in the beginning phase of this project with an anticipated implementation timeline of April 2027 for the commencement of the transition.

In the interim, we will be working closely with the groups in the implementation structure to complete the design, model the shadow results and develop a transition plan to move the university to the new budget model.

Details on the budget model development and implementation is posted online for your information. The page will be updated regularly as the project moves along.